Amalgamated Financial (NASDAQ:AMAL) exceeds Q3 2026 expectations
Socially responsible bank Amalgamated Financial (NASDAQ:AMAL) beat Wall Street’s revenue expectations in Q3 2026, with sales up 17.7% year on year to $101.7 million. Its non-GAAP profit of $1.14 per share was 5.2% above analysts’ consensus estimates.
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Amalgamated Financial (AMAL) Q3 2026 highlights:
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Net Interest Income: $87.94 million vs analyst estimates of $87.36 million (15% year-on-year growth, 0.7% beat)
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Net Interest Margin: 3.8% vs analyst estimates of 3.8% (in line)
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Revenue: $101.7 million vs analyst estimates of $97.49 million (17.7% year-on-year growth, 4.4% beat)
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Efficiency Ratio: 48% vs analyst estimates of 50.4% (236 basis point beat)
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Adjusted EPS: $1.14 vs analyst estimates of $1.08 (5.2% beat)
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Tangible Book Value per Share: $27.54 vs analyst estimates of $28.46 (8.8% year-on-year growth, 3.2% miss)
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Market Capitalization: $1.43 billion
Priscilla Sims Brown, President and Chief Executive Officer, commented, “The story this quarter is not simply about delivering outstanding results. It is about demonstrating that the earnings power we have built is long-lasting and supported by multiple strengths across the bank.”
Company overview
Founded in 1923 by labor unions seeking a financial institution aligned with worker values, Amalgamated Financial (NASDAQGM:AMAL) operates a values-oriented bank that provides commercial banking, trust services, and investment management to socially responsible organizations and individuals.
Sales growth
From lending activities to service fees, most banks build their revenue model around two income sources. Interest rate spreads between loans and deposits create the first stream, with the second coming from charges on everything from basic bank accounts to complex investment banking transactions. Over the last five years, Amalgamated Financial grew its revenue at a solid 13.7% compounded annual growth rate. Its growth beat the average banking company and shows its offerings resonate with customers, a helpful starting point for our analysis.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Amalgamated Financial’s annualized revenue growth of 10.2% over the last two years is below its five-year trend, but we still think the results were respectable.
This quarter, Amalgamated Financial reported year-on-year revenue growth of 17.7%, and its $101.7 million of revenue exceeded Wall Street’s estimates by 4.4%.
